2 Staggering Biotechs Join Wednesday’s 52-Week Low Club
July 20, 2016 by Paul AusickJuly 20, 2016: Here are four stocks trading with relatively heavy volume among 13 equities making new 52-week lows in Wednesday’s session. NYSE advancers led decliners by more than 2 to 1 and Nasdaq advancers led decliners by the same margin.
Zafgen Inc. (NASDAQ: ZFGN) lost nearly 53% Wednesday to post a new 52-week low of $3.18 versus a high of $47.98 after closing Tuesday at $6.75. Volume totaled more than 15 times the daily average of about 425,000 shares. The biotech firm said this morning that it is halting development of its Beloranib drug and cutting its workforce by more than a third.
Evoke Pharma Inc. (NASDAQ: EVOK) slipped about 19% on Wednesday to post a new 52-week low of $2.00 after closing at $2.47 on Tuesday. The stock’s 52-week high is $11.11. Volume reached more than 10 times the daily average of around 250,000shares. The drugmaker said Monday that topline data from a phase III study failed to meet its primary endpoint.
Fibria Celulose SA (NYSE: FBR) fell by about 3.3% on Wednesday to post a new 52-week low of $6.22 against a high of $14.94. The stock closed at $6.43 on Tuesday night. Volume was about equal to the stock’s daily average of around 1.6 million. The company had no specific news Wednesday.
Navigator Holdings Ltd. (NYSE: NVGS) dropped about 3.4% on Wednesday to post a new 52-week low of $10.12 against a 52-week high of $18.65. Volume was about double the daily average of around 310,000. The stock closed at $10.48 on Tuesday night. The company had no specific news.
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